Job Description
Highly skilled and experienced Senior Insurance Business Analyst to join our team.
Candidate must have a strong background in insurance business analysis, with at least 7-10 years of on-ground experience.
Candidate would be responsible for analysing insurance business processes & KPIs, identifying best ways to consolidate and map, develop strategies for consolidated reporting.
Key Responsibilities:
Conduct thorough analysis of insurance business processes, focusing on areas such as underwriting, claims processing, policy administration, and customer service, with a keen understanding of the nuances and complexities within the insurance industry.
· Drive the identification and development of key performance indicators (KPIs) relevant to insurance operations, ensuring alignment with business objectives and strategic goals.
· Utilize a profound understanding of insurance reporting requirements to develop and implement robust reporting mechanisms, providing actionable insights for decision-makers.
· Lead the analysis and consolidation efforts in the context of mergers and acquisitions involving two insurance companies, ensuring a seamless integration of systems, processes, and teams.
· Collaborate closely with cross-functional teams to elicit and document detailed requirements, define project scope, and articulate business needs for insurance-related initiatives.
· Oversee and contribute to the generation of comprehensive business requirements documents, ensuring they accurately reflect the intricate demands of the insurance business.
· Facilitate and lead meetings with key stakeholders to discuss insurance business strategies, report on project progress, and address any challenges or concerns that may arise.
· Develop and maintain strong relationships with internal and external stakeholders, including business partners, regulatory bodies, and third-party vendors, fostering a collaborative environment.
· Share profound subject matter expertise on insurance business processes, trends, and best practices with the team, promoting continuous learning and improvement.
Qualifications:
· Bachelor's degree in Finance, Insurance, or a related field, with a solid academic foundation in insurance principles and practices.
· 7-10 years of progressive experience in insurance business analysis, with a demonstrated track record of success in roles of increasing responsibility.
· Deep understanding of insurance & health operations, including underwriting, claims processing, policy administration, and customer service, acquired through hands-on experience in the industry.
· Proven ability to generate, analyse, and interpret key performance indicators (KPIs) specific to insurance operations, enabling informed decision-making and strategic planning.
· Extensive knowledge of insurance reporting requirements and regulations, with experience in developing and implementing comprehensive reporting mechanisms tailored to insurance business needs.
· Previous involvement in mergers and acquisitions within the insurance sector, including experience in consolidating operations, systems, and processes to achieve synergy and maximize efficiency.
· Strong analytical skills, with the ability to dissect complex insurance business processes, identify areas for improvement, and develop practical solutions to enhance operational effectiveness.
· Excellent communication and interpersonal skills, with the ability to convey technical concepts to non-technical stakeholders and foster collaboration across diverse teams.
· Proven track record of leading and managing cross-functional projects, from inception to completion, with a focus on delivering results on time and within budget.
· Certification in Business Analysis (e.g., CBAP, PMI-PBA) and insurance industry certifications (e.g., CPCU, AINS) are desirable.
· Demonstrate a commitment to professional development and excellence in the field of Insurance (BFSI).
